Towards the close of 2016, the FCA released a Consultation Paper (CP16/24) looking at the possibility of investment and pension firms without mortgage permissions being able to advise on the equity release market provided they had an adviser who passed either a standalone qualification or a top-up to existing pension and investment qualifications.

Although new changes to the capital adequacy rules do not take effect until 30 June, Richard Nuttall strongly recommends firms review their financial position at the earliest time possible in case action is needed.